Headlands Technologies LLC Buys Shares of 1,414 SPX Technologies, Inc. (NYSE:SPXC)

Headlands Technologies LLC purchased a new position in SPX Technologies, Inc. (NYSE:SPXC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,414 shares of the company’s stock, valued at approximately $206,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Diametric Capital LP increased its stake in SPX Technologies by 17.6% in the fourth quarter. Diametric Capital LP now owns 1,999 shares of the company’s stock worth $291,000 after purchasing an additional 299 shares during the period. Franklin Resources Inc. increased its stake in SPX Technologies by 1,260.7% in the 4th quarter. Franklin Resources Inc. now owns 170,512 shares of the company’s stock worth $24,813,000 after buying an additional 157,981 shares during the period. Pictet Asset Management Holding SA lifted its holdings in SPX Technologies by 9.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 6,922 shares of the company’s stock valued at $1,007,000 after buying an additional 616 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in SPX Technologies in the 4th quarter valued at about $382,000. Finally, Norges Bank bought a new position in SPX Technologies in the 4th quarter worth about $93,038,000. 92.82% of the stock is currently owned by hedge funds and other institutional investors.

SPX Technologies Stock Down 3.4 %

NYSE:SPXC opened at $122.56 on Friday. The company’s 50-day simple moving average is $140.96 and its 200-day simple moving average is $152.34. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.19 and a current ratio of 1.85. SPX Technologies, Inc. has a fifty-two week low of $116.05 and a fifty-two week high of $183.83. The stock has a market capitalization of $5.68 billion, a P/E ratio of 32.95, a P/E/G ratio of 1.33 and a beta of 1.22.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SPXC shares. Oppenheimer raised SPX Technologies from a “market perform” rating to an “outperform” rating and set a $165.00 price target on the stock in a research report on Wednesday, February 26th. Sidoti upgraded shares of SPX Technologies from a “neutral” rating to a “buy” rating in a report on Wednesday, February 26th. Finally, UBS Group reduced their price target on shares of SPX Technologies from $164.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, SPX Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $174.75.

SPX Technologies Company Profile

SPX Technologies, Inc supplies infrastructure equipment serving the heating, ventilation, and cooling (HVAC); and detection and measurement markets worldwide. The company operates in two segments, HVAC and Detection and Measurement. The HVAC segment engineers, designs, manufactures, installs, and services package and process cooling products and engineered air movement solutions for the HVAC industrial and power generation markets, as well as boilers, heating, and ventilation products for the residential and commercial markets.